But by the end of the year, half of his wealth disappeared. According to Bloomberg's billionaires list he now ranks #89 on the list of the world's wealthiest. He could have to hand over more of his wealth

Batista was born in Brazil in 1956 and moved to Germany when he was a teen.

On of seven children, Eike was born in 1956 in Governador Valadares, Minas Gerais, Brazil, to a Brazilian father and German mother, he spent his childhood in the country of his birth, but moved to Germany when he was a teenager.

In 1974, he began to study metallurgical engineering at the University of Aachen in Germany.

He used to sell insurance door-to-door when he was in college

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His family returned to Brazil when he was 18, and he started selling insurance to make ends meet. All his friends, on the other hand, were rich.

From the Australian Financial Review:

"So I got highly motivated to make some extra money and I sold insurance policies from door to door. It's a great learning experience because some doors open and some don't. I had a lot of teas with old ladies."

But by 1979, he'd dropped out of college before he could finish his degree in metallurgical engineering and returned to Brazil.

Source: Robert the matador joins Eike the bull, Australian Financial Review, October 30, 1999 Saturday, Late Edition

But eventually moved on to trading gold, where he made his first millions.

In the early 1980's Batista returned to Brazil and started a gold trading firm Autram Aurem, raising seed money from connections in Rio and quickly establishing a far-flung network of 60 buyers of raw gold in the Amazon.

From The Age:

"The price of gold was shooting up and the cruzeiro [Brazil's currency before the real] was going down," recalls Willie McLucas, a former manager of a European resource fund that invested in TVX in the 1980s.

Source: The boy from Oz goes to Rio for the force, The Age (Melbourne, Australia), June 15, 1999 Tuesday, Late Edition

He eventually founded TVX Gold, a gold mining company.

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Since the whole gold trading things was working out so well, Batista decided to found his own gold mining company—TVX Gold, in 1980.

The 'X' in the name is supposed to signify 'multiplication,' as in multiplication of wealth.

It was rough going. Once, his bodyguard killed and buried a man in the Amazon

Batista was a gold trader at the time, traveling around the pick and shovel miners (garimpeiros) in the Amazon jungle to buy their gold. He also financed some of them and one digger had made no attempt to repay him for six months.

"On one of my tours I went to see him and said: 'Where is my money?' He went screaming mad. He was a drunk. I made the mistake of calling him a son of a b--ch (filho da puta). I turned around and walked a few metres away and bang! He shot me in the back."

"He was drunk. I was lying on the floor and the other guys' [his bodyguards] instinctive reaction was to shoot him because they didn't know whether he would shoot them next."

They buried the garimpeiro in an unmarked grave at the end of the airstrip.

Source: Robert the matador joins Eike the bull, Australian Financial Review, October 30, 1999 Saturday, Late Edition

And some say Batista wasn't always on the straight and narrow in his dealings.

From the Age:

"Eike would go into the jungle and show these village chiefs a 10-day-old newspaper and say, 'Look, here's the price of gold,'" McLucas, told The Age.

"Meanwhile, the price had gone up, and would go up even more by the time he got back to Rio. He'd pay the chiefs in local currency, which was dropping, and sell the gold in hard currency. You couldn't lose."

Source: The boy from Oz goes to Rio for the force, The Age (Melbourne, Australia), June 15, 1999 Tuesday, Late Edition

In 1983 founded EBX, the umbrella under which he would found all his other companies.

Meanwhile, Batista started really living like a billionaire — he won several power boating championship titles.

In the 1990's Batista was the Brazilian, U.S. and world champion in the Super Offshore Powerboat class.

In 2006, he covered the 220 nautical miles between Santos and Rio de Janeiro in just a sliver over three hours and beat the record for the course in his boat, the Spirit of Brazil, according to a Dow Jones profile of the CEO.

In 2001, he had to resign from TVX, his gold mining company

After plans for a gold mine in Greece went bust because of political opposition, once high-flier TVX took a decided turn for the worse. And then the price of gold started to fall, reaching a paltry $300 an ounce.

Batista resigned in 2001, after the cash-strapped producer was forced to put itself up for sale.

But 10 years later, Batista bought back into the gold business.

In 2011, Batista bought out Ventana Gold Corp., a company he's had his eye on for a while by then. He first snapped up a 9.5% stake in Ventana in July 2009 through EBX, and by 2010, he controlled 20% of the company's stock.

They finally came to a full sale agreement in 2011, when Batista sweetened the deal, which valued Ventana at a little more than C$1.5 million.

In the spring of 2012 he was the 10th richest man in the world.

Eike BatistaAP

And he told Bloomberg he absolutely had to number 1 because of the competitive spirit that he acquired in his childhood:

"I suffered very heavy asthma, so my mother threw me in the cold swimming pool," he said. "So I cured my asthma through discipline, and I saw that you could achieve things by performing, and it's part of my DNA… I'm very competitive."

Batista also said he wanted to repair Brazil's reputation:

"Brazil lost two generation of Brazilians to the crisis between '84 and '97," he said. "Brazil probably paid $150 billion in extra risk spread [during that time]. The ratings agencies put Brazil in the same level as Nigeria, and today it's better than Germany."

By the end of 2012, however, he lost two-thirds of his fortune and needed cash.

BloombergTV

His oil and mining companies started hemorrhaging money in 2012. OGX, the oil company, had lost 40% of it's value halfway through 2012, as it had to cut production targets at it's first two oil wells by as much as 75%.